Van ECK Associates Corp Purchases Shares of 124,388 TELUS Co. (NYSE:TU)

Van ECK Associates Corp purchased a new stake in shares of TELUS Co. (NYSE:TUFree Report) (TSE:T) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 124,388 shares of the Wireless communications provider’s stock, valued at approximately $1,991,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its holdings in TELUS by 18.4% during the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock valued at $727,275,000 after purchasing an additional 6,334,692 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of TELUS by 3.9% in the fourth quarter. 1832 Asset Management L.P. now owns 35,614,595 shares of the Wireless communications provider’s stock worth $633,584,000 after acquiring an additional 1,326,999 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TELUS by 15.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after acquiring an additional 3,860,487 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of TELUS by 5.8% in the fourth quarter. Bank of Nova Scotia now owns 22,881,520 shares of the Wireless communications provider’s stock worth $407,205,000 after acquiring an additional 1,250,827 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of TELUS by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock worth $406,217,000 after acquiring an additional 1,044,988 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Up 1.4 %

Shares of NYSE TU opened at $15.27 on Monday. The stock has a market cap of $22.54 billion, a PE ratio of 39.15, a PEG ratio of 2.21 and a beta of 0.73. The business has a fifty day moving average of $16.04 and a two-hundred day moving average of $16.78. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.70 and a current ratio of 0.75.

TELUS (NYSE:TUGet Free Report) (TSE:T) last issued its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.73 billion. TELUS had a return on equity of 7.90% and a net margin of 3.73%. As a group, equities research analysts expect that TELUS Co. will post 0.75 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 10th were issued a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.39%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, June 10th. TELUS’s payout ratio is currently 289.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank restated a “sector perform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of TELUS in a research note on Monday, March 25th. StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.72.

Get Our Latest Research Report on TU

TELUS Profile

(Free Report)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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